back Back

SICO Bank partners with Beyon Cyber for cyber security services

By Leandra Monteiro

May 23, 2022

  • Bahrain
  • Cybersecurity
  • Digital Attacks
Share

Beyon Cyber, SICO BankSICO BSC, a regional asset manager and investment bank (licensed as a wholesale bank by the CBB) has signed a contract with Beyon Cyber for managed cyber security services. The partnership, which was signed by SICO CEO, Najla Al Shirawi and Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa, will lead to enhancing the cyber security maturity of SICO’s IT Infrastructure to accelerate its digital transformation journey.

The banking and finance sector in Bahrain has been transforming digitally through the application of emerging technologies. As a result, the sector has become increasingly vulnerable to cyberattacks, increasing the importance of protecting the enterprise against rising cyber threats and losses. SICO has selected Beyon Cyber with its profile and vast experience as a partner on this mission.

Commenting on the partnership, SICO’s CEO, Najla Al Shirawi said, “We are pleased to partner with a distinguished national company providing sophisticated and much needed cyber security solutions enabling us to manage and mitigate business risk.”

SICO’s Head of Information Technology, Mohammed Ibrahim added, “We look forward to benefit from Beyon Cyber’s managed cyber security services to strengthen the bank’s IT Infrastructure and cyber architecture protecting our digital transformation solutions against external cyber threats.”

“The rapid growth of digitization in recent years has led to increased opportunities for potential cyber-attacks and that is the reason we are working side by side on the cyber security enhancements as well as the digitalization strategy ensuring the strongest cyber security measures are in place. We are very confident that Beyon Cyber will provide the expertise and solutions we need to achieve our cyber security plans & targets.”

Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa commented, “We are delighted to have been selected as the security services provider for SICO, as it enables us to support their exciting innovation strategy towards digital transformation. We believe that a strong digital strategy needs to be built on secure foundations with embedded principles of security by design. This partnership allows us to bring our years of experience in cyber threat monitoring and response to SICO to help protect them against advanced cyber threats,” Dr. Khalid said.

Dr. Khalid added, “The contract with SICO falls under Beyon Cyber’s strategic plans to offer world class and affordable cyber security services to financial institutions across the country in compliance with the Central Bank of Bahrain (CBB) guidelines.”

Previous Article

May 23, 2022

TransferMate announced a $70m funding round bringing the company valuation to $1b

Read More
Next Article

May 23, 2022

Caribou raises $115m in Series C funding, valuing company at $1.1b

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 04, 2024

FinTech Focus: Catch the latest developments of the week

Read More

October 04, 2024

UK FinTech sector dominates Europe with 65% share of all deals in H1 2024

Read More

October 03, 2024

NTT DATA & Naehas unite to offer personalised financial solutions

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More